London-headquartered fitness events platform Let’s Do This, which helps users find running, triathlon, cycling and obstacle experiences, has raised $60m (£48m).
The Series B round was led by Craft Ventures and Headline. It also drew capital from Morpheus Ventures and existing investors EQT, NFX and Y Combinator.
The endurance events platform has previously attracted investment from sporting celebrity backers, including tennis player Serena Williams, sprinter Usain Bolt, long-distance runner Paula Radcliffe and Gmail founder Paul Buchheit.
“I love sport and have seen first-hand the positive impact it can have on people’s lives. But, many people are often held back from discovering sport and the benefits it can bring them,” said Serena Williams, angel investor, Let’s Do This.
Let’s Do This will use the Series B capital to expand its headcount from 85 to 150 employees, fund its US expansion with the launch of its Colorado office and for product development.
The fitness events platform also plans to extend its offering to different verticals in the events and experiences sector.
“Let’s Do This breaks down this barrier by allowing people to discover new ways of keeping fit, encouraging them to push themselves and providing a sense of community and camaraderie in the process, irrespective of fitness levels,” added Williams.
Serena Williams is no stranger when it comes to investing in technology companies, investing since 2008 through her Serena Venture Capital firm across AI, fintech, gaming and health.
Founded in 2016 by co-founders Alex Rose and Sam Browne, the fitness events platform has more than 5 million global users.
“We are living in a world where we spend more time than ever with our heads buried in our phones. The growing influence of social media and the Metaverse is a depressing extension of this, and the effect on our health and wellbeing cannot be ignored,” said Alex Rose, co-founder and COO, Let’s Do This.
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